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Return of Private Foundation 390PF Form Department of the Treasury For calendar year 2013 or tax beginning, and ending Name of foundation Employer identification number 016009246 DAVENPORT TRUST FUND

How to fill out return of private foundation

How to fill out the return of private foundation:

1. Gather all necessary documents and information: Before starting the process of filling out the return of a private foundation, gather all relevant documents such as financial statements, grant information, and details about any transactions or investments made by the foundation. Additionally, have information about the foundation's mission and activities.
2. Determine the correct form to use: The return of a private foundation is typically filed using Form 990-PF, which is specifically designed for private foundations. Make sure to use the most recent version of the form, which can be obtained from the Internal Revenue Service (IRS) website.
3. Fill out the identification section: Begin by providing basic information about the private foundation, including its name, address, and EIN (Employer Identification Number). Include details about any changes in the foundation's name or address since the last filing.
4. Complete Part I - Summary: This section requires a brief summary of the foundation's financial activities, including revenues, expenses, assets, and liabilities. Provide accurate figures based on the foundation's financial statements for the specific tax year being reported.
5. Fill out Part II - Balance Sheets: This section requires detailed information about the foundation's assets, such as cash, investments, accounts receivable, and property. It also entails reporting liabilities and any net assets or fund balances. Refer to the foundation's financial statements to accurately complete this section.
6. Complete Part III - Statement of Activities: Here, provide a breakdown of the foundation's revenues, expenses, and changes in net assets or fund balances. Include specific details about any grants made during the tax year and other expenses incurred in carrying out the foundation's charitable activities.
7. Fill out Part IV - Supporting Schedules: This section may require additional information depending on the foundation's specific activities and financial transactions. Examples of supporting schedules include information about disqualified persons, foreign activities, and certain types of assets. Refer to the instructions provided with the form to determine which schedules are applicable and complete them accordingly.
8. Attach additional documents and schedules: If there are any attachments or additional schedules needed to fully report the foundation's activities, include them with the return. This may include copies of grant agreements, investment statements, or any other supporting documents.
9. Review and double-check: After completing the return, carefully review all the information provided to ensure accuracy and completeness. Double-check all calculations and cross-references with supporting documents to minimize errors.
10. Submit the return: Once the return is fully filled out and reviewed, sign and date it as required. Make a copy for your records and submit the original return to the IRS by the specified deadline. Retain all supporting documents and attachments for future reference.

Who needs return of private foundation?

1. Private foundations: Any private foundation, as defined by the IRS, is required to file a return. This includes organizations established by individuals, families, or corporations to support charitable causes.
2. Organizations with 501(c)(3) status: Private foundations that have been granted tax-exempt status under section 501(c)(3) of the Internal Revenue Code are required to file an annual return, regardless of their asset size.
3. Foundations with financial activity: Private foundations that have engaged in financial transactions, such as making grants or receiving income from investments, are obligated to file a return to report their activities to the IRS.

It is important to note that the specific requirements for filing a return of a private foundation may vary depending on the foundation's size, activities, and other factors. It is always recommended to consult with a tax professional or legal advisor to ensure compliance with all applicable laws and regulations.

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What is return of private foundation?

The return of a private foundation is a document that must be filed with the IRS annually to provide information about the foundation's finances and activities.

Who is required to file return of private foundation?

Private foundations are required to file a return with the IRS each year.

How to fill out return of private foundation?

To fill out the return of a private foundation, you will need to gather financial information, details about grants made, and other relevant information about the foundation's activities.

What is the purpose of return of private foundation?

The purpose of the return of a private foundation is to provide transparency about the foundation's finances and activities to the IRS and the public.

What information must be reported on return of private foundation?

Information such as financial data, details about grants made, compensation of officers, and other relevant information must be reported on the return of a private foundation.